Post Properties, Inc. (NYSE: PPS), an Atlanta-based real estate
investment trust, today announced that at a meeting earlier today, the
Board declared quarterly dividends on its common stock of $0.40 per
share for the second quarter of 2014. The dividend is payable on July
15, 2014, to all common shareholders of record as of June 30, 2014.
Said Dave Stockert, CEO and President, “We are pleased to raise the
dividend to common shareholders, to reflect the strength of our
business, and consistent with our capital allocation plans. With today’s
announcement, we expect our annualized rate of common dividends to
increase to $1.60 per share.”
Post also announced regular quarterly dividends for its 8.5 percent
Series A Cumulative Redeemable Preferred Stock of $1.0625 per share for
the second quarter of 2014. The dividend is payable on June 30, 2014, to
all Series A preferred shareholders of record as of June 16, 2014.
The Company also announced that at its Annual Meeting held earlier
today, shareholders elected the Board’s eight nominees, voted to
approve, on an advisory basis, executive compensation, voted to adopt
the 2015 non-qualified employee stock purchase plan, and ratified the
appointment of Deloitte & Touche LLP as the Company’s independent
registered public accountants for 2014.
About Post Properties
Post Properties, founded more than 40 years ago, is a leading developer
and operator of upscale multifamily communities. The Company’s mission
is delivering superior satisfaction and value to its residents,
associates, and investors, with a vision of being the first choice in
quality multifamily living. Operating as a real estate investment trust
(“REIT”), the Company focuses on developing and managing Post® branded
high density urban and resort-style garden apartments. Post Properties
is headquartered in Atlanta, Georgia, and has operations in ten markets
across the country.
Post Properties has interests in 22,208 apartment units in 59
communities, including 1,471 apartment units in four communities held in
unconsolidated entities and 1,620 apartment units in five communities
currently under development or in lease-up.
Post Properties, Inc.
Chris Papa, 404-846-5000
Source: Post Properties, Inc.